Bloomberg the Company & Products

Bloomberg Anywhere Login

Bloomberg

Connecting decision makers to a dynamic network of information, people and ideas, Bloomberg quickly and accurately delivers business and financial information, news and insight around the world.

Company

Financial Products

Enterprise Products

Media

Customer Support

  • Americas

    +1 212 318 2000

  • Europe, Middle East, & Africa

    +44 20 7330 7500

  • Asia Pacific

    +65 6212 1000

Communications

Industry Products

Media Services

Follow Us

Societe Generale’s Yao Calls Yuan Band Widening ‘Big Gesture’

Don't Miss Out —
Follow us on:

April 14 (Bloomberg) -- Yao Wei, a Hong Kong-based economist at Societe Generale SA, comments on the widening of the yuan’s trading band by the People’s Bank of China.

“This is a small step but a big gesture of China’s commitment to liberalize its exchange rate. Recently China has clearly accelerated the pace of capital account openness.

“The change essentially gives more say to the market to determine the path of the yuan. Given the market expectations indicated by the currency forward curves, the yuan will probably continue fluctuating around current levels for some time, but with more volatility.”

To contact the Bloomberg News staff on this story: Zheng Lifei in Beijing at lzheng32@bloomberg.net

To contact the editor responsible for this story: Paul Panckhurst at ppanckhurst@bloomberg.net

Please upgrade your Browser

Your browser is out-of-date. Please download one of these excellent browsers:

Chrome, Firefox, Safari, Opera or Internet Explorer.